Saudi Oil Minister Naimi Optimistic About Kingdom’s Oil Future

The minister said that he saw a bright future for education, training, development and manufacturing in the Kingdom.

Houthi Missiles Hit Saudi Border Town; Airforce To Retaliate

The projectiles struck a girls’ school and a hospital in Najran, which is only two miles from Yemen’s border, officials said.

Sharjah Launches Dhs80m Leisure Island Project To Attract Tourists

The island will consist of a Butterfly House, a literature pavilion and art sculptures, the emirate’s agency said in a statement.

Dubai’s DP World To Start Benchmark USD Bond Meetings Thursday

Sources told Reuters last month that the firm could raise between $750 million and $1 billion from the senior unsecured Reg S/Rule 144A issue.

Saudi Finance Minister: Our Position Is Very Strong Despite Cheap Oil

The minister was also optimistic that the global economy was emerging from its slump, but that one couldn’t expect a return to growth levels of 10 years ago.

Saudi Hardware Retailer SACO’s IPO Meets Strong Demand

SACO, a popular supplier of building tools and mechanical equipment in the kingdom, offered 2.88 million shares to individual investors.

UAE Non-oil Business Growth Picks Up In April

Output, new orders and employment all rose more quickly during the month, with the output index climbing to 62.0 points from 60.7.

Saudi Non-oil Business Growth Slows, Impact Of Royal Largesse Fades

Employment continued to increase but at a slower pace.

Saudi Sets Ownership Caps As $575bn Bourse Opens To Foreigners

A single foreign investor will be able to hold no more than 5 per cent of any listed company, while total foreign ownership of a firm will be limited to 20 per cent.

UN Urges Saudi-Led Coalition To Stop Targeting Yemen Airport

The statement comes as the UN prepared a plan to set up an air-bridge to bring humanitarian workers into the country.

Rotana Plans Expansion Into Europe, London In Focus

The group is looking to open a hotel in London in order to attract GCC tourists travelling to the UK.

Qatar Airways To Launch Three New US Routes In 2016

The carrier also confirmed that it would add a second daily service to New York from March 1, 2016.

Gulf Countries To Create More Jobs In 2015 Despite Oil Price Fall

Qatar is expected to create the most number of jobs in the Gulf this year as it readies for the World Cup in 2022.

Saudi-Led Alliance Mulls Humanitarian Truce In Yemen

The Dubai-based channel also quoted Adel al-Jubeir as warning Yemen’s dominant Houthi group against exploiting any truce in the country in its favour.

Bahrain Cabinet Approves $9.47bn Budget For 2015 -BNA

The budget assumed an oil price of $60 a barrel, forecasting a budget deficit of about BD1.47 billion for 2015.

Saudi Aramco To Cut Jet Fuel Prices Domestically-SPA

Jet fuel prices will be cut by 15 halalas per litre at Riyadh and Jeddah airports and by 20 halalas per litre at other airports.

Hyatt To Launch New Brands In GCC, Expand Presence

At least nine new Hyatt-branded hotels are expected to open across the GCC by 2017A

France, Qatar Sign $7bn Rafale Warplane, Missile Deal

The deal covers the sale of 24 Dassault Aviation-built Rafale fighter jets.

Emirates: Working On “Point-By-Point” Rebuttal Of US Carriers Subsidy Report

The airline’s president Tim Clark states that its success is making Emirates a “scapegoat.”

Kuwait’s Burgan Bank Q1 Net Profit Rises 2%, Misses Estimates

Burgan made a net profit of KD17.54 million ($58.2 million) in the first quarter of 2015.

Dubai Visitor Numbers Up 8.2% In 2014

New official report says a total of 13.2 million tourists visited Dubai last year.

Saudi’s Al Muhaidib Buys Stake In Kuwaiti Building Supplies Chain Abyat

The deal will help Abyat expand into the wider Gulf region, with Al Muhaidib Group benefiting from an increased presence in the sector.

UAE’s ADIB Q1 Profit Up 10.1% On Higher Revenues

ADIB made a net profit of Dhs450.8 million ($122.8 million) in the first quarter of 2015.

Airliner Diverted To UAE Airbase After Blast Warning

The state news agency said that the authorities resolved the situation using “appropriate standard procedures” after landing at the base.

Saudi’s SAFCO Says New Urea Plant Delayed Further To June-End

The company said the delay would not increase the cost of the plant.

Damac To Launch Mixed-Use Luxury Strip Vista Lux In Akoya

The project will house more than 2,000 hotel apartments and residences.

Small Arab Force Reported In Aden, Alliance Accused Of Cluster Bomb Use

Saudi Arabia denied that a major ground operation was under way by the anti-Houthi coalition it leads but declined to comment on special forces.

Nakheel To Build New Beachfront Resort In Deira Islands

The developer will partner with Spanish hotel operator RIU Hotels and Resorts to build an all-inclusive four-star resort in Dubai.

Abu Dhabi’s Dolphin Energy Seeks Adviser For $1bn Loan -Sources

The firm is looking for what bankers termed “incremental finance”, sources said.

Saudi Arabia Says It Has Not Begun A Ground Operation In Yemen’s Aden

The statement comes as a group of Arab forces reportedly landed in Yemen to fight Houthi tribesmen.